As the Fall semester starts, students return to Ohio State University. At the same time, taxes...
As the Fall semester starts, students return to Ohio State University. At the same time, taxes in the town go down. Use demand and supply curves, to explain what happened to the equilibrium price and equilibrium quantity.
Homework Answers
As the students are going away from the town the demand for the goods will fall and that will shift the demand curve to the left and the new equilibrium will be at a lower price and lower output, but as the taxes have fallen the demand will increase as the disposable income will increase, this will bring the demand back to the older equilibrium.
if they are going to town and taxes are falling in ohio only then the price and quantity both will increase and the new equilibrium will be at a higher output and higher price.
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just looking for answer to d. does adding students effect both curves? or just demand curve?...
just looking for answer to d. does adding students
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